Do you want a constant stream of good quality content direct to your target customers?
To save time and money by cutting out influencer research and sponsorship negotiations?
Well hiring influencers for long-term deals might be the answer.
It’s an approach that’s being adopted by a number of bigger brands, but the benefits are applicable to all influencer marketing campaigns.
For some reason, marketers and brands struggle with the idea of rehiring influencers.
Common assumptions include that it’s ineffective to retarget the same customers or that the more reach the campaign has the more successful it will be.
With the development of influencer marketing into a legitimate marketing channel, we now know both these assumptions are false.
Dispelling the myths
As with any other marketing channel, the more times your target customers are exposed to your product the more likely they are to get it.
Retargeting is not only effective in influencer marketing, but for the majority of your customers it’s vital.
By only hitting them once with an endorsement, you are failing to convert a staggering 75 per cent of your customer share.
A wide reach is also not going to return the highest conversion rates. Far more important is engagement — that is, likes, comments, shares of the sponsored content.
The higher the engagement rate on the influencer’s content, the more likely the viewer is to click through to your product website.
For the best return on investment with any influencer marketing campaign you don’t need a wide reach, you need reach specifically to your target customers — the more precise, the better.
It’s now possible to accurately measure your return on investment
Just a year ago there was of course another problem with long-term sponsorship of particular influencers — it was all but a guessing game as to how well the content had paid off.
However, using tracking links and now being able to access the analytics means we can now accurately measure conversion rates and work out the cost per view, order or install.
Thus marketers and brands now have the hard data to assess if key performance indicator goals are met.
It means it’s possible to see which influencers give you a good return on investment and whether it makes sense to hire them to do more content for your brand.
To learn more about the analytics available for each social media channel, read this.
The huge advantage of long-term sponsorships
You already know your influencer will deliver the return on investment you need.
Sponsoring the influencer for six months to a year, perhaps commissioning one sponsored content a month or on the understanding they will promote any new product released in that time frame, takes most of the pain out of influencer marketing.
No more time consuming research, no more uneasy waits for the analytics and no more costly mistakes.
Building a relationship with your influencers makes communicating and briefing them much easier — they already know what you need. Your influencers will also become more confident in suggesting creative concepts for your sponsored content.
It further cements in your target customers’ minds that your influencer truly believes in your brand, adding authenticity to their endorsements — why else would they agree to partner with you for so long?
Long-term sponsorships are the key to raising awareness of your brand among your target customers, and for driving steady sales in the long term.
Scaling your influencer marketing channel is also easier. Over time, gradually increasing your number of long-term sponsorships will grow your return on investment exponentially.
Hedge your bets
If you manage to strike a long-term deal with an influencer who is rapidly growing, you’ll be getting your message to more and more of your target customers at a much lower overall cost.
Either use an influencer marketing platform, or compare influencer growth indicators yourself, to find so-called “long-tail influencers”.
These influencers are the next generation of online megastars, securing them early is gold-dust for a brand.
Not to mention, new subscribers will look back at what the influencer has done in the past and view your previous content.